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FINANCIAL DICTIONARY & GLOSSARY: LI
insurance or third party insurance - protects the insured
person (the first party) against his liability to pay compensation for
injury, etc. to anyone else (the third party); the second party is the
liberalism - the belief that self interest, competition and the price mechanism are adequate to regulate an economy.
LIBOR - the London inter-bank offered rate, the rate at which commercial banks in London lend each other Euro-currencies.
licensing - selling the right to a manufacturing process, trademark, patent, etc., usually in a foreign market.
limited company or corporation - one that is only liable for the amount of capital that shareholders have invested, and not for debts greater than this amount.
limited liability - responsibility for debts up to the value of the company's share capital.
liquid assets or available assets - anything that can quickly be turned into cash.
liquidate - to sell personal assets in order to pay creditors.
liquidation or receivership or winding up - the compulsory sale of the assets of a bankrupt company.
liquidator or receiver or administrator - person appointed by a court who realizes (turns into cash) a company's assets in order to repay creditors.
liquidity - cash and other liquid assets in excess of current liabilities; the ease with which an asset can be spent or sold.
liquidity preference - the public's demand for money in cash or current bank accounts; money which is saved rather than spent or lent.
listed or quoted companies - companies whose shares are traded on a stock exchange.
list price - the manufacturer's or wholesaler's recommended price, before any discounts or special reductions are offered.
Lloyd's - large international insurance market in London; an association of underwriters and brokers, trading in groups called syndicates.
LM curve - shows the interest rates and income levels at which the supply and demand for money (liquidity preference) are equal.
loan - something lent (usually money) that will have to be given or paid back (usually with interest).
long position - buying a security, either for investment purposes or in anticipation of future price rises.
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FINANCIAL DICTIONARY & GLOSSARY
a-ac, ac-am, am-as, as-ba, ba-be, be-br, br-cap, cap-cas, ce-col, col-com, com-cor, cor-cu, cu-deb, deb-dem, dep-dis, dis-du, du-em, em-ex, fa-fi, fi-fr, fr-ge, ge-gr, ha-im, im-ine, inf-int, int-inv, inv-la, la-li, li-lo, lo-mar, mar-mark, mat-mo, mo-na, na-od, of-ou, ov-pa, pa-po, po-pri, pri-pro, pro-qu, qu-red, red-res, res-sa, sa-sh, sh-sta, sta-sto, str-ta, ta-tr, tr-un, un-va, va-we, we-zz
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